“TGC-6”, plc, Development Strategy approved
On the 31st of July the board of directors of “TGC-6” plc has approved a medium-term development strategy of the company for the years 2006-2010.
The prior objective is to maximize costs when maintaining steady functioning of the Company. As a result the value of the company by the year 2010 will have to increase 2.36 times.
Within the frameworks of the approved development strategy “TGC-6”, plc, it is planned to perform a range of investment projects. The total amount of investments will be over 4 billion roubles. By 2010 it is planned to have 194 MWTT of electric power.
The development strategy of “TGC-6” will increase issue of heat and electric power, improve efficiency, heighten the market capitalization of the company and increase the assets.
It is thought that these measures will extend the revenue in 24%, will push up sales profit in 64% and increase profitability in 8%. The approved strategy will allow to bring the risk rate down. (from 14.75% to 10.64%).
“TGC-6” mission is to assist regional development of the company throughout the infrastructure providing secure and systematic supply of electric power.
The Strategy was approved by the comity on Strategy, Development, Investment and Reforms together with the Board of Directors of “TGC-6” and Business Unit #2 RAO UES of Russia.
In the period of August – September, 2006, the investment projects of new strategy of the company will be coordinated to the representatives of local authorities.
The official Presentation of the above mentioned Strategy will be held for the journalists, analysts, businessmen in the end of August, 2006.